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+Article 21 Conditions of independence |
Article 21 Conditions of independenceArticle 21 Conditions of independence The competent authorities shall be independent of statutory auditors and audit firms. The competent authorities may consult experts, as referred to in point (c) of Article 26(1), for the purpose of carrying out specific tasks and may also be assisted by experts when this is essential for the proper fulfilment of their tasks. In such instances, the experts shall not be involved in any decision-making. A person shall not be a member of the governing body, or responsible for the decision–making, of those authorities if during his or her involvement or in the course of the three previous years that person:
(a)
has carried out statutory audits;
(b)
held voting rights in an audit firm;
(c)
was member of the administrative, management or supervisory body of an audit firm;
(d)
was a partner, employee of, or otherwise contracted by, an audit firm. The funding of those authorities shall be secure and free from undue influence by statutory auditors and audit firms. 1. Overview
1.1 References1.2 Identified Requirements1.3 Related Standards2. Identified Requirements
3. Related Standards
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